On page 63, (iv) contingent liabilities there are two sentences about litigation with Superior that mention the December 2021 date of 2021WASC459(s) ruling but go on to say" directors do not believe that settlement of any obligations arising from these matters will be material". In 2021wasc459(s) the western australia supreme court ruled that vango must pay 80% of superior/Billabong legal cost incurred during course of litigation that has now dragged on for 5 years. Per 2022 annual report, I last 12 month Vango spent $883,000 on legal fees. I wonder what Superior/Billabong has spent? How is the settlement of obligations arising from 2021wasc459(s) not material?
VAN Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
